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FIRSTWAVE CLOUD TECHNOLOGY LIMITED — Capital/Financing Update 2024
Jun 10, 2024
64905_rns_2024-06-10_8f08d7c3-0921-4e91-b844-ec5a27c040ca.pdf
Capital/Financing Update
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ASX Announcement
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FirstWave receives Contract Extension and Uplift for its Largest Customer under its PSA with Telstra
FirstWave Cloud Technologies (ASX: FCT) is pleased to announce that, under its PSA (Professional Services Agreement) with Telstra, it has extended and uplifted a contract with its largest customer for FirstWave’s CyberCision cybersecurity-as-a-service platform. While full details of the contract are subject to confidentiality agreements, FirstWave’s revenue is contracted to grow by approximately 20% in FY25.
The Telstra platform that hosts CyberCision for the customer is an ISM compliant platform which is the forerunner to the new all of government ISM compliant platform recently developed for Telstra by FirstWave. The ISM (Information Security Manual) standard is the Australian government security compliance standard, and Telstra and FirstWave are targeting ISM-compliant cybersecurity-as-aservice for Australian Government users.
FirstWave CEO Danny Maher said the contract expansion reflected the quality of FirstWave’s CyberCision platform and the strength of its ongoing relationship with Telstra.
“The FirstWave team worked hand-in-hand with Telstra on this project, and we are delighted to expand this contract on terms that work for all parties,” he said. “CyberCision’s complete cybersecurity-as-a-service platform enables service providers like Telstra to offer enterprise-grade security at scale and reduced cost.”
ENDS
This announcement has been authorised for release by the Board of Directors.
For media inquiries, please contact:
Ben Ready RGC Media & Mktng 0415 743 838 [email protected]
About FirstWave:
FirstWave is a global software company formed in 2004. The Company is a leading provider of enterprise-grade network management, automation, audit and cybersecurity software, with over 150,000 organisations using FirstWave software across 178 countries. Clients include Microsoft, Telmex, Telstra, Claro and NASA. In January 2022, FirstWave acquired Opmantek Limited, and in September 2023, it acquired Saisei Networks Inc.
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FirstWave Cloud Technology Limited ABN: 35 144 733 595 Level 14, 132 Arthur St North Sydney, NSW, 2060, Australia T: +61 2 9409 7000 W: Firstwave.com